15-06-32.1. Contracts - Renegotiation

15-06-32.1. Contracts - Renegotiation The board of university and school lands may renegotiate the terms of any contract made under this chapter when requested by a purchaser who has paid at least thirty percent of the purchase price and is unable to make the payments as required by the contract. The renegotiation may include restructuring and reamortization so long as the resulting contract is consistent with the fiduciary responsibilities of the board.